The local EA is one Thomas Morris. last week I carried out a little exercise. I counted up the number of TMs adverts that said 'no forward chain' or 'no upward chain'. Now I know that the odd granny dies leaving vacant possession but to my certain knowledge that doesn't account for more than one or two at any one time. A quick check on the ones around the village shows they are indeed empty. The only conclusion I can reach is that these are BTLs selling out.
So with about half the properties advertised as 'no forward chain', we either have an outbreak of the black death or a panic exodus from the market.
My near neighbour is trying to sell his house, bought early 2007 for 177k, for the princely sum of 185k. He is not using an agent since he needs every penny for himself.
If the house follows national averages he'll be lucky to get 150k.
Even in the face of the evidence above there are still people expanding into more BTL.